theunknowingtarmack
New member
- Joined
- Aug 31, 2021
- Messages
- 6
Let me preface this by saying that while I have a BA in Finance, my math skills are horrible (I only passed my math classes due to the rest of the class bombing all of the tests and the prof curving the grades. I got extremely lucky, but right now, I'm re-thinking just how lucky I am since I am a total moron when it comes to numbers).
To make a long story short, I work at a media company in the EU and we work with influencers to provide them branded integrations on their socials, they give us their rates, and ideally, we quote ABOVE the rates (as I found out my first day), not the exact rates. Then, throw a Spanish subcontractor into the mix that wants 50/50 from the deals, and the main company I work for that always wants a cut (30%, decent-sized).
How would I do this and not look stupid? Let's use an example that I'm struggling to figure out right now (another deal for Spain is on the line). The client's rate is, let's say, 500 EUR for integration on their socials. The Spanish subcontractor wants everything split down the middle, 50/50. The main company I work for would prefer 30% and a decent cut as well. The client needs to get their rate no matter what, while also factoring in the Spanish contractor and the main company. What rate should I quote to the company?
I have previously made the mistake of quoting the actual rate that the client/subcontractor had given me (e.g. - if the client says 500 EUR, then I quote 500 EUR to the company, and then when it comes time to signing... I find out there's all these % and cuts. Boy that was a confusing day. This is one part of my job that I struggle with, the rest is A-Okay.)
So, for this case... would it be fair enough to quote, say 700? That way the client gets his share (I think?), then the Spanish subcontractor gets his 50/50 (I think?), and the main company gets its share (again, I think?). Or am I missing something? Thanks, folks.
To make a long story short, I work at a media company in the EU and we work with influencers to provide them branded integrations on their socials, they give us their rates, and ideally, we quote ABOVE the rates (as I found out my first day), not the exact rates. Then, throw a Spanish subcontractor into the mix that wants 50/50 from the deals, and the main company I work for that always wants a cut (30%, decent-sized).
How would I do this and not look stupid? Let's use an example that I'm struggling to figure out right now (another deal for Spain is on the line). The client's rate is, let's say, 500 EUR for integration on their socials. The Spanish subcontractor wants everything split down the middle, 50/50. The main company I work for would prefer 30% and a decent cut as well. The client needs to get their rate no matter what, while also factoring in the Spanish contractor and the main company. What rate should I quote to the company?
I have previously made the mistake of quoting the actual rate that the client/subcontractor had given me (e.g. - if the client says 500 EUR, then I quote 500 EUR to the company, and then when it comes time to signing... I find out there's all these % and cuts. Boy that was a confusing day. This is one part of my job that I struggle with, the rest is A-Okay.)
So, for this case... would it be fair enough to quote, say 700? That way the client gets his share (I think?), then the Spanish subcontractor gets his 50/50 (I think?), and the main company gets its share (again, I think?). Or am I missing something? Thanks, folks.